Where I live I am not able to deduct the principals payments I make on my mortgages, only the interest.

While the first spouse receives the deduction, the second spouse then claims that income on -  Schedule C - and pays self employment tax.It's the exact same result, but you've at least transferred some Social Security/Medicare over to the second spouse for retirement purposes down the road, so that's good.If you're looking to figure this out for being a landlord, then you just put everything on one Schedule E for property you own jointly.  

However, many landlord insurance policies have deductibles up to $1000 or more, so even if insurance covered it, much of the bill would still be unpaid.  

Is there a standard average to follow like the stock market etc...?

They'll only do 3 and the last one has to be 40% (this isnt industry standard, just what this lender does), so lets say the draw schedule is $6k, $6k, $8k.  

The standards of the dwellings may not meet the standards you would be happy with.  

Some banks will allow you to deduct the land value from the amount they require for insurance coverage but I haven't seen that being allowed that much any more.  

Looking to optimize my income and expenses on my taxes as I know there are a broad range of options that are all in full compliance w/ standard tax code. 

We have a minimal data standard that we must have prior to even pricing the loan out.  

This seems like a non-standard approach, so any advice in evaluating and realizing the value is appreciated.I'll wrap it up with that as this post is getting long, but I look forward to discussing your insights and advice!